Costly Claims Could Sink a Business: Here’s a Solution
Disputes are, unfortunately, a common part of today’s business landscape. In fact, any business that hasn’t found itself involved in some sort of legal wrangle can probably count itself lucky. Legal costs and professional fees to defend any claims made against your business or to pursue a disagreement over a contract, for example, mount up very quickly and can run into significant sums: sums that can often have a shattering effect. Have you thought about how you would cope if the prospect of such expenses suddenly became a reality for your business? In this post we discuss some of the most common disputes that arise in business, and offer a solution to cover the costs attached to defending any action you might face.
Risky Business: Protecting Company Directors and Officers from Crippling Claims
Did you know that as a director or officer of a company, you are legally responsible for your actions? That under the Companies Act 2006, there are more than 200 areas of statutory liability you are exposed to?
A Warm Welcome to Mark Bayford
We’re delighted to welcome Mark Bayford as a commercial account executive. Exciting times for us as Mark brings with him substantial commercial insurance experience as well as expertise in two niche areas of insurance.
Personal Injury Claims: Why Rehabilitation is a Service to seek out from your Insurer
When there is an accident on business premises or on the road, parties injured through no fault of their own will usually receive a compensation payout. Financial support is essential for those injured.
The Insurance Bill Part 2: Insurance Warranties
In our last post on the Insurance Bill, we discussed how legal reforms proposed by the Law Commission and Scottish Law Commission could be set to revolutionise the way commercial insurance is provided and administered in the UK. We talked in detail about how the Insurance Bill will affect duty of disclosure, a grey area of commercial insurance that has been recognised as being poorly understood. The Insurance Bill will also have an effect on insurance warranties, another area of concern and confusion for businesses, and it is these we will discuss in this latest post.
The Insurance Bill
On 15 July 2014 the Law Commission and the Scottish Law Commission presented a report to Government. The report, the culmination of eight years of consultations, included certain recommendations which we are discussing in this post, together with a draft Bill - the Insurance Bill - designed to implement them. The recommendations were intended to reform what is now considered outdated law on insurance which is based on the 18th and 19th century principles of the Marine Insurance Act 1906. And it will spell good news for businesses seeking insurance.

